Friday, April 16, 2004

Wisconsin car insurance & Wisconsin homeowners insurance companies aren't the only Insurers making lots of money

Wisconsin car insurance & Wisconsin homeowners insurance companies aren't only Insurers making lots of money

Insurer profits soar in 2003 according to Business Insurance, a publication aimed at corporate buyers of insurance. According to Business Insurance, U.S. car insurance, homeowners insurance and other property and casualty insurance companies made just shy of $30,000,000,000.00 in PROFITS in 2003. That amount is near TEN TIMES the $3,050,000,000.00 car insurance, homeowners insurance and property and casualty insurance companies made just a year ago. Per that article, these insane profits are related primarily to less "underwriting losses."

Car insurance, homeowners insurance and property and casualty insurance companies definitely stuck it to those of us who PAY PREMIUMS: Per the article, net premiums increased about 10%, to nearly $406,000,000,000.00. Let's see, they raised premiums about $40.6 BILLION and claim to have made $30.0 BILLION. Where do you think the other $10+ BILLION went? Perhaps this man has it: Maurice Greenberg at AIG.

Wisconsin Personal Injury Attorney